In 1971, finance Minister Muldoon effects changes…

In 1971, finance Minister Muldoon effects changes in the regulations governing bank ownership, thus allowing greater latitude for foreign-owned banks to operate in New Zealand.

Many of the New Zealand banks establish links with foreign banks, all members of the Business Round Table organization: Broadbank with Wells Fargo; General Finance with Chase Manhattan; Fletchers and Renouf with Bank of America and Barclays in New Zealand United Corp.

In late 1971, Brierly’s I. E. L. allegedly begins establishing, with Gulf Oil support, chains of shell companies and dummy corporations as a way of obscuring takeovers of oil, gas and mineral resources and such related big Oil-controlled “car culture” industries as vehicle franchises, spare vehicle parts and finance services.

Brierly’s group also allegedly gains control of I. S. A. S. (New South Wales) and I. S. A. S. (Queensland), sole franchisees for construction and mining equipment preoduced by International Harvester Credit Co, a unit of Chase Manhattan Bank associated with First National Bank of Chicago, Continental Illinois and Amoco (American Oil Comany, the former Rockefeller-owned Standard Oil of Indiana).

I. S. A. S. (Qld) also holds strategic positions in North Flinders Mines, Flinders Petroleum and Apollo International Minerals.